USD/CAD at Make-or-Break Zone as Jobs Data Looms

USD/CAD bounced off last month’s low, but it’s still stuck under some big trend resistance. So, the bigger picture hasn’t really changed yet. The weekly opening range is the spot to watch. If the pair stays above 1.3566, the recovery stays on track. But if it drops below that, traders will probably start eyeing 1.3485 and maybe even 1.3420.

If USD/CAD manages a daily close above 1.3722 or 1.3733, that’s a stronger sign a bottom’s in, and it could push up toward 1.38 or even 1.3830. In the short term, everything hinges on US ADP and Canadian jobs numbers, so expect some real volatility as the week

wraps up.

USD/CAD Daily Chart